During the Previous Year, Bane County Closed Its Encumbrances Account

question 14

Multiple Choice

During the previous year, Bane County closed its Encumbrances account.At the end of the previous year there was $5,000 of outstanding purchase commitments.To restore these commitments to the accounts, which of the following entries would be required?

• A)Debit Reserve for encumbrances $5,000; credit Encumbrances $5,000.
• B)Debit Encumbrances $5,000; credit Reserve for encumbrances $5,000.
• C)Debit Encumbrances $5,000; credit Fund balance $5,000
• D)Debit Fund balance $5,000; credit Reserve for encumbrances $5,000.

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Definitions:

Depersonalization Syndrome

A dissociative disorder characterized by persistent or recurrent feelings of detachment from one’s self, as if one is an outside observer of their own actions.

Semen Loss

A concept often related to historical and cultural beliefs regarding the physical and psychological effects of losing semen, typically through ejaculation not resulting in conception.

Koro

A cultural-specific syndrome most commonly found in Southeast Asia where individuals fear that their genitals are retracting and will disappear.

Performance Anxiety

Performance anxiety refers to the severe stress or fear of performing in front of others, often impacting one's ability to perform tasks effectively.